ACCOUNTABILITY REPORT 2018...study, 136 graduate degree programs (64 master’s, 21 profes-sional,...

ACCOUNTABILITY REPORT 2018

ABOUT COLORADO STATE UNIVERSITY

COLORADO STATE UNIVERSITY, the flagship campus of the CSU System, is a major public research university in Fort Collins, Colo.

A doctorate-granting institution established in 1870, CSU is the state’s land-grant University, with a mission to offer access to an excellent education, provide outreach that serves society, and conduct research that serves the public interest and advances our world.

The campus is home to 33,800 students in 2018-2019, 69 percent of whom are Colorado residents. With more than 7,500 employees statewide, it is the largest single employer in Northern Colorado. CSU offers 76 fields of undergraduate study, 136 graduate degree programs (64 master’s, 21 profes-sional, and 51 doctoral, including a professional degree in veterinary medicine), and 43 graduate certificates.

ABOUT THE COLORADO STATE UNIVERSITY SYSTEM

THE COLORADO STATE UNIVERSITY SYSTEM and its three campuses – Colorado State University-Fort Collins, CSU-Pueblo, and CSU-Global Campus – work as partners with the state of Colorado to spark innovation, hone ideas, improve economic vibrancy, and enhance quality of life for the people of Colorado.

The CSU System campuses educate more than 40,000 new and returning scholars every year.

The CSU System exists to support, enhance, and protect the unique missions of its constituent institutions and to encourage collaboration that benefits students and Colorado.

COLORADO STATE UNIVERSITY 3

THIS ANNUAL ACCOUNTABILITY REPORT provides an overview of Colorado State University’s audited financial statements and institutional outcomes data for the 2018 fiscal year.

We publish this annual report to provide fundamental information about how Colorado State University manages its resources – including the funds entrusted to it by the taxpayers of Colorado and the tuition and fees paid by families and students. In addition, we hope some of the information on these pages helps you more fully realize the return on your own investment in Colorado State.

Accountability isn’t just about the bottom line. It’s about behavior. It’s about living up to the highest expectations. It’s about delivering on our mission and returning exceptional value to the state of Colorado in terms of educated students, research innovation, and statewide outreach programs that benefit communities and families.

Accountability and transparency are part of our responsibility as a public university, and we welcome your interest in this information.

Sincerely,

Dr. Tony FrankPresident

“As one of the best universities in Colorado, CSU not only attracts students from across the country but also retains them and helps them graduate on time.”

Schools.com, August 2018

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CSU’s Economic Impact in Colorado

CSU generates $465.2m in yearly tax revenue for the state

1 in 25 Colorado workers has a CSU degree

$560m in economic activity

generated in 2.5 years from CSU construction

3,602 non-CSU jobs created over 2.5 years

105,000+ CSU alumni work in Colorado today

CONTENTS

THIS ANNUAL ACCOUNTABILITY REPORT provides public access to Colorado State University’s assets and expenses, derived from CSU’s audited financial documents. Additional resources related to institutional performance, costs, and accountability can be found at:

CSU ACCOUNTABILITY WEBSITE Current and past copies of this report, college and division operating budget summaries, Fact Book data. http://accountability.colostate.edu

BUDGET UPDATES AND COMMUNICATIONS CSU budget drafts and an interactive budget planning tool that lets you turn the dial on next year’s revenues and expenses. https://president.colostate.edu/budget-updates

INSTITUTIONAL RESEARCH, PLANNING, AND EFFECTIVENESS Detailed data, analyses, and research briefs on all aspects of University operations, including student success. https://www.ir.colostate.edu/

CSU POLICIES AND COMPLIANCE Library of CSU policies and tools related to organizational

policies and compliance. http://opc.prep.colostate.edu/

An equal-access and equal-opportunity University

Cover: Photo by William A. Cotton

This Page: Photo by John Eisele

ACCOUNTABILITY AT COLORADO STATE UNIVERSITY

4 ACCOUNTABILITY REPORT 2018 COLORADO STATE UNIVERSITY 5

CSU Ranks Among the Best | 6CSU Invests in Military Veterans | 7

CSU Serves Every Colorado County | 8Innovation and Service: The CSU System | 10

Partnerships and Key Issues Impacting the State | 12National Western Center | 13

Colorado’s Investment in Higher Education | 14The Shifting Burden for Public Higher Education | 15

Where Tuition Dollars Go | 16CSU Costs are Comparable | 17A Decade of Donor Support | 19

CSU Budget: Prioritizing Teaching,

Research, and Service | 21Revenue Sources | 23

Revenue by Amount and Percentage | 24Spending Prioritizes Core Mission Areas | 26Expenses and Expenditures by Category | 27

Investing in People | 28Salary Expenses | 29

CSU Assets | 30Obligations and Liabilities | 33Responsible Stewardship | 34Budget Planning Process | 35

CSU RANKS AMONG THE BEST LOCALLY, NATIONALLY, GLOBALLY

Colorado State University is an elite public research

university, a Carnegie Research University (very high

research activity), and a Carnegie Community

Engaged University. The National Science Foundation

ranks CSU among the top 10 percent of U.S. research

universities for R&D activity.

67

130

4,681

1,036

5,914

141

227

4,677

938

5,983

154

294

4,916

921

6,285

171

287

4,917

980

6,355

247

340

5,164

1,007

6,758

244

371

5,206

1,173

6,994

243

381

5,255

1,209

7,088

282

447

5,304

1,329

7,362

290

444

5,099

1,527

7,360

327

454

5,189

1,558

7,528

410

515

5,134

1,669

7,728

CSU Online Resident

CSU Online Nonresident

Main Campus Resident

Main Campus Nonresident

TOTAL:

2007-08 2008-09 2009-10 2010-11 2011-12 2012-13 2013-14 2014-15 2015-16 2016-17 2017 - 18Full Year

TOTAL COLORADO STATE UNIVERSITY DEGREES AWARDED BY YEAR

CSU is among the Top Tier of U.S. Universities in the U.S. News and World Report annual rankings.

Military Times ranks CSU in the nation’s Top 5 Public Universities in its “Best for Vets” annual report.

CSU is one of only 16 U.S. institutions that has never had a major NCAA violation.

CSU ranks among the Top Universities in the World in the Shanghai Jiao Tong Academic Ranking of World Universities.

CSU is the only university in Colorado designated as an Innovation and Economic Prosperity University by the Association of Public and Land Grant Universities.

More Colorado high school graduates choose CSU than any other campus in the state. Over the past decade, more than 58,118 degrees were awarded to Colorado residents and more than 2,576 of those were delivered online. Currently, one out of every 25 Colorado workers has a CSU degree.

TOP TIER

BEST FOR VETS

HIGH INTEGRITY

WORLDWIDE QUALITY

INNOVATIVE LEADER

COLORADO’S SCHOOL OF CHOICE

COLORADO STATE UNIVERSITY INVESTS IN MILITARY VETERANS

Since the passage of the Post-9/11 GI Bill a decade ago,

the number of GI Bill benefits-using students at CSU

has more than tripled, from 454 to 1,596.

IN TOTAL, CSU currently has 1,900 students using the Post-9/11 GI Bill, Department of Defense, or VA education benefits.

MILITARY-CONNECTED STUDENTS are choosing CSU for its outstanding programs, scholarships, and value-based model approach to educating and serving those who have served our country.

IN ITS MOST RECENT RANKINGS, Military Times named CSU No. 5 for public universities and No. 6 overall nationally in its annual “Best for Vets” publication.

THE STUDENT VETERANS OF AMERICA presented the William Pearson Tolley Champion for Veterans in Higher Education Award to President Tony Frank in 2019, recognizing CSU’s long-standing commitment to significantly improve higher education for student-veterans.

COLORADO STATE UNIVERSITY 76 ACCOUNTABILITY REPORT 2018

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CSU SERVES EVERY COLORADO COUNTY

The Colorado State University System has

permanent employees living and working

throughout the state of Colorado, providing di-

rect services to every county in the state.

Numbers indicate number of permanent

Extension, AES, and CSFS employees serving

the county or region.

l Extension Office location (E)

l Agricultural Experiment Station location (AES)

l Colorado State Forest Service location (CSFS)

l Served by adjacent county personnel

n Counties served by CSU Western Campus

n Counties served by the San Luis Valley Area

n Counties served by High Plains Campus

n Counties served by Castle Rock Collaboration Campus

n Counties served by the NE Colorado Regional

Engagement Center

CSU extends to every corner of Colorado

7 Agricultural Experiment Stations.

19 Colorado State Forest Service district

and field offices. 64 counties provided

services by CSU Extension.

CSU WESTERN CAMPUS

HIGH

PLAINS

CAMPUS

CSU

SYSTEM

OFFICE

7,235 CSU/FC100 E, AES, CSFS

750 CSU/P13 EXTENSION

825 CSU GC

CASTLE ROCK

COLLABORA-

TION CAMPUS

NORTHEAST

COLORADO

REGIONAL

ENGAGEMENT

CENTER


10 ACCOUNTABILITY REPORT 2017 COLORADO STATE UNIVERSITY 1 1


CSU SYSTEM CAMPUSES

COLORADO STATE UNIVERSITY IN FORT COLLINS

CSU’s flagship campus is a world-class research institution that educates more Colorado high school graduates than any other campus in the state, with the lowest tuition of any of the state’s major research universities. As the state’s land-grant University, CSU has a statewide service mission that includes the Colorado State Forest Service, Colorado Agricultural Experiment Stations, and Extension (which includes 4-H).

l 33,800 students

l 69% Colorado residents

l 22% minority

l 20% first-generation

l 80% incoming students receive financial aid

CSU-GLOBAL CAMPUS

As the nation’s first fully accredited, 100 percent online public university, CSU-Global is the premier provider of innovative higher learning opportunities for nontraditional students in Colorado and beyond.

l 20,000 students from every Colorado county and

every U.S. state and territory – primarily working

adults from diverse backgrounds with average age

of 35 years.

l CSU-Global is entirely tuition-funded and

does not receive appropriations from the state

of Colorado.

CSU-PUEBLO

CSU-Pueblo is the people’s university of the American Southwest, promoting resilience, agility, and problem- solving and preparing our diverse graduates for success in the working world. CSU-Pueblo is a federally designated Hispanic Serving Institution, with academic expertise in mass communications and new media, engineering, busi-ness, nursing, athletics training, the sciences, and more.

l 4,500 students

l 86% Colorado residents

l 49% minority

l 33% first-generation

l 90% receive financial aid

INNOVATION AND SERVICE: THE COLORADO STATE UNIVERSITY SYSTEM

THE COLORADO STATE UNIVERSITY SYSTEM

delivers great education, economically important

research, and responsive service to the people of

Colorado through its three distinct campuses and

key statewide partnerships, including the new

National Western Center in Denver.

The System and all its campuses are committed

to delivering exceptional, competitive education at

reasonable cost, while limiting student debt.

CSU is Colorado residents’ university of choice

58,118 CSU degrees were awarded to Colorado residents

over past decade (FY08-FY18). 1 in 25 Colorado workers

has a CSU degree. 2,576 CSU degrees were earned online

by Colorado residents over past decade (FY08-FY18)


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CSU IS AT THE FOREFRONT OF KEY ISSUES IMPACTING THE STATE THROUGH A VARIETY

OF INNOVATIVE PARTNERSHIPS:

CSU-Pueblo’s

Cannabis Research

Institute is playing an

instrumental role in the

sound development of

the Colorado cannabis/

hemp industry through

research and training

initiatives.

CSU and Adams

State University have

partnered to offer stu-

dents in the San

Luis Valley the chance

to study agriculture

without leaving home,

offering CSU agriculture

classes through their

hometown ASU campus.

Partnering with

legislators, Colorado

counties, and the

Ag Experiment Station

network, CSU is

building a Western

Colorado campus at its

facility in Orchard Mesa.CSU has restructured

its outreach operations

to make them more

community-focused.

As a result, Colorado coun-

ties are happy with the

improved service and

4-H is strong, serving

every county in Colorado.

The new regional engagement

hubs serve as a bridge

between Colorado regions

and the CSU System.

The CSU System

supports student-

veterans at all its

campuses – the

flagship campus in

Fort Collins has been

named one of the top

military-friendly schools

in the country.

COLORADO STATE UNIVERSITY CAMPUS AT THE NATIONAL WESTERN CENTER

The Colorado State University Campus at the National

Western Center is scheduled to break ground in 2020

and open in 2021, providing a centralized, statewide

research hub tackling pressing global issues and

providing an educational space open to all.

The CSU presence at the National Western Center will focus on health, water, energy, food, and the environment in three key facilities:

l CSU Water Building

l CSU Animal Health Complex

l CSU Center for Food and Agriculture

Programming and community opportunities at the CSU NWC Campus will include:

l K-12 and family learning

l Continuing education and master’s programs

l Workforce development

l Summer camps for kids

l Teacher training

l Community and industry kitchen

l Research in action

Learn more at https://nwc.colostate.edu/

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COLORADO’S INVESTMENT IN HIGHER EDUCATION TODAY MEANS A STRONGER ECONOMY TOMORROW

Colorado taxpayers annually contribute

about $13.5 billion in state tax revenue. (Net income, sales and use, and other taxes) (Source: Colorado Department of Revenue)

CSU receives $2,550 per student from the state of

Colorado to educate one student for one year

(full-time resident @ 30 credit hours per year).

Taxpayers earning the state’s median household

income ($62,520) contribute about $221 annually

in taxes to support higher education.

(Source: U.S. Census Bureau and Colo. Dept. of Revenue)

The state of Colorado collects that money

and invests about $895 million in higher

education every year to educate about

190,427 Full-time Equivalent Enrollments.

(Source: Colo. Dept. of Higher Education)

A college graduate will pay 93 percent more in

Colorado income taxes during a typical career

than someone with only a high school diploma.

(Source: U.S. Census Bureau and Colo. Dept. of Revenue)

The state’s investment is repaid in

just over 5 -1/2 years.

(Source: CSU Institutional Research)CSU graduates continue to pay higher taxes

based on higher earnings long after they’ve

repaid the cost of their education – generating

long-term revenue for the state of Colorado.

Students, graduating from CSU with

bachelor’s degrees, make an average

annual starting salary of $49,300. They

immediately start repaying the state’s

investment in their education through

their taxes. (Source: CSU Career Center)

THE SHIFTING BURDEN FOR PUBLIC HIGHER EDUCATION IS A NATIONAL TREND

In 2017 – for the first time ever – more than half of all states relied

more heavily on tuition than on educational appropriations. Public

universities in Colorado rely on two funding sources to educate

students: tuition and taxpayer support provided through the state’s

General Fund.

IN COLORADO:

COSTS ARE STABLE: The cost to educate a student at Colorado State University has held relatively flat for most of the past two decades, when adjusted for inflation. But while costs are stable, there has been a shift in who pays the bill.

STUDENTS AND FAMILIES PAY A GREATER SHARE: Twenty years ago, the state of Colorado paid two-thirds of every student’s education. Today, the state pays less than a quarter of the cost – with stu-dents and families shouldering the rest.

HIGH QUALITY AT A LOWER COST: Even as the cost burden has shifted, Colorado remains a moderate tuition state. CSU receives its state support in the form of College Opportunity Fund tuition stipends, paid on behalf of each in-state student who enrolls, and revenue earned by providing specific services to the state under a Fee for Service contract.

As a result, Colorado delivers a high-quality degree at a lower cost to the state than anywhere else in the country.

CUTS TO HIGHER EDUCATION MEAN CSU FAMILIES PAY MORE FOR TUITION

CSU studentsgraduate

71% of students who

enroll at CSU graduate.

79% of CSU students

who graduate do so in

4.5 years or less.

CSU’s 4-year graduation

rate has increased 4%

in the last 5 years.

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Figures reflect annual costs for a full-time, resident student at 30 credit hours per year. Colorado State University FY18-19 Education and General Budget data. This is a subset of CSU Education and General Budget, from E&G Budget Data Book Expenditures by NACUBO Code.

STUDENT FEES SUPPORT GOES BEYOND THE CLASSROOM

Student fees are charges that students choose to assess themselves for various services above and beyond what’s covered by tuition. Students retain some decision-making authority over how their fees are spent.

$1,733GENERAL FEES

$50UNIVERSITY TECH FEE

$623UNIVERSITY FACILITY FEE

Pays for student activities (concerts, lectures, movies); Student Recreation Center; Lory Student Center; CSU Health Network; athletics; veterans’ programs; student government; Transfort; counseling; and more.

Funds classroom improvements, renovations, and construction of new, student-focused buildings.

Funds campus computer labs, library computing, and other technology services.

=YOUR FY2018-2019 TUITION CHECK

$9,426per year

STATE TAX SUPPORT (COF)

$2,550at $85 per credit hour

THE TOTAL CSU RECEIVES

$11,976from tuition and the state to educate

one student for one year

+

INVESTING IN THE FUTURE: WHERE DO YOUR CSU TUITION DOLLARS GO?Your tuition check: More than 80 percent of the cost of a Colorado State University education goes into academics, student

services, and scholarships. (The chart below focuses ONLY on revenues generated by student enrollments, NOT CSU’s total

revenue budget. As a result, the percentages in this chart differ from totals listed elsewhere in this report.)

CSU COSTS ARE COMPARABLE TO PEER UNIVERSITIES

TUITION, FEES, ROOM, AND BOARD, BASED ON 12 CREDIT HOURS PER TERM

TUITION NON- ROOM AND TOTAL TOTAL NON-INSTITUTION RESIDENT RESIDENT FEES BOARD † RESIDENT RESIDENT

University of Illinois, Urbana $12,036 $28,606 $3,968 $11,308 $27,312 $43,882

Michigan State University $11,568 $31,812 $67 $10,872 $22,507 $42,751

U.C. Davis* $11,442 $40,434 $2,960 $16,211 $30,614 $59,606

Virginia Tech $11,420 $29,104 $2,200 $9,070 $22,690 $40,978

University of Tennessee $11,110 $29,300 $1,896 $10,450 $23,456 $41,761

University of Colorado $10,728 $35,482 $2,036 $14,418 $27,182 $51,936

Washington State University $10,268 $24,504 $1,313 $10,944 $22,525 $36,761

Texas A&M University $10,252 $36,422 $0 $10,436 $20,688 $46,878

Peer Average $9,536 $28,293 $1,759 $11,237 $22,533 $41,343

Colorado State University $9,426 $27,327 $2,406 $11,964 $23,796 $41,697

Purdue University $9,208 $28,010 $784 $10,258 $20,250 $39,052

Iowa State University $7,740 $22,144 $1,248 $10,795 $19,783 $34,187

Oregon State University* $7,608 $22,893 $1,776 $12,195 $21,579 $36,864

Kansas State University $7,500 $19,903 $888 $9,680 $18,068 $30,471

North Carolina State U. $6,535 $25,878 $2,566 $10,555 $19,656 $38,999

Oklahoma State University $6,089 $21,609 $2,929 $10,130 $19,148 $34,669

*Trimester system tuition and fees – AY based on Autumn/Fall, Winter, Spring quarters.† Room and Board includes max meal plan where applicable, in accordance with Common Data Set instructions.

As recently as 2014, higher education accounted for

9.4% of the state budget.

In 2018-19 it was 8.8%. That’s below

the national average of 18%. (U.S. Census, Survey of State and Local Government Finance).

THE UNIVERSITY SPENDS

THIS MONEY ON . . .

61% Instruction &

Academic Support

20% Student Services,

Scholarships,

9% Operation, Plant Maintenance,

& Depreciation

10% Institutional

Support

A DECADE OF DONOR SUPPORT

CSU SURPASSES GOALS IN PRIVATE FUNDRAISING

Over the last decade, CSU has met ambitious goals on two major comprehensive campaigns. Most

recently, the University announced in Fall 2018 that it had topped its original $1 billion goal in its ongoing

State Your Purpose campaign, which will continue Beyond a Billion through its target closing date in 2020.

l Donors have established 500 new scholarship funds at CSU since the current $1 billion campaign launched in 2012.

l More than 106,000 individual donors and more than 7,200 organizations have contributed to the current campaign, including 179 gifts of $1 million or more.

l Donors in FY18 funded more than 25 percent of the cost of new construction and renovation projects on campus.

l Over the past decade, donor and grant funds have funded about 12 percent of new construction and renovation at CSU.

l CSU outpaces every other campus in Colorado without a medical school when it comes to private fundraising.

l Private support at CSU has exceeded CSU’s funding allocation from the state every year since 2012.

CSU TOTAL DOLLARS RAISED IN FY18: $152,769,380

TOTAL PHILANTHROPIC DOLLARS USED BY CSU IN FY2018: $113,519,347

CSUF TOTAL INVESTED ASSETS FY18: $488,768,547

CSUF TOTAL INVESTED ASSETS FY09: $210,973,456

100 M 200 M 300 M 400 M 500 M

FY09

FY18

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CSU BUDGET PRIORITIZES TEACHING, RESEARCH, AND SERVICE TO COLORADO

The charts in this section illustrate the University’s sources of funding

and how those funds are spent in support of the University’s mission. As

a land-grant university, Colorado State is charged to serve the state in

three primary ways: education of students, conduct of research to sup-

port the needs of our society and our world, and outreach and engage-

ment to extend the University’s educational and research capacity to

areas of statewide need.

In FY2018, CSU earned nearly $2 million in licensing revenue:

36 licenses. 112 invention disclosures.

21 programs of research and scholarly

excellence. 53 patents received.

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Colorado State University spends its money on education, research, and service. CSU support for administration accounts for only 4% of our total expenditures.

The average for all other Colorado public 4-year colleges

and universities is more than 11%.

(amounts expressed in thousands) 2014* 2017* 2018

Operating revenues Student tuition and fees (net of scholarship allowance) 292,466 389,130 410,106 State COF tuition stipends 31,661 36,594 37,154 State fee for service contract 65,420 82,274 85,522 Grants and contracts 260,315 292,487 323,486 Sales and service of educational activities 33,871 40,986 42,724 Auxiliary enterprises (net of scholarship allowance) 133,329 165,386 182,883 Other operating revenue 6,335 6,564 7,157

Total operating revenues 823,397 1,013,421 1,089,032

Nonoperating revenues State appropriations 2,472 - 2,768 Gifts, capital gifts, and grants 66,514 59,243 136,680 Student facility fees (net of scholarship allowance) 8,248 12,405 12,529 Federal nonoperating grants and contracts 24,492 23,760 26,216 State capital contributions 1,823 28,890 59,351 Other nonoperating revenues (expenses) 9,484 5,908 (6,205)

Total nonoperating revenues 113,033 130,206 231,339 Extraordinary items Extraordinary items - - -

Total revenues 936,430 1,143,627 1,320,371 Total tuition and fees: 324,127 425,724 447,260

* Reclassified per review of Student Facility Fees to be more in line with other Institutions of Higher Education.

OPERATING AND NONOPERATING REVENUES

CSU MANAGES ITS BUDGETS TO PRIORITIZE TEACHING, RESEARCH, AND SERVICE TO COLORADO

CSU REVENUE SOURCES

Colorado State University is fiscally responsible. Revenue is generated from several sources

that support teaching, research, and outreach.

Colorado State University’s academic program is mostly funded by two sources: state support (in the form of College Opportunity Fund stipends and Fee for Service funding) and student tuition and fees.

The total University budget (including research and donor funding) generates revenue that is directed in large part to a specific activity such as research projects or endowed chairs. These funds do not support the core teaching operations of the University. (The chart below addresses TOTAL CSU revenues, so the percentages differ from the chart on page 16, which only looks at revenues derived from enrollment.)

27% Grants

& Contracts

31% Student Share (Tuition & Fees)

1% Facility Fees

17% Auxiliary & Other Sales & Services

10% Gifts/Capital

Gifts

10% State

Support

4% State Capital Contribution

22 ACCOUNTABILITY REPORT 2018

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CSU REVENUE BY AMOUNT AND PERCENTAGE


$50 $100 $200 $300 $400 $500

20182017201620152014

20182017201620152014

20182017201620152014

20182017201620152014

20182017201620152014

20182017201620152014

20182017201620152014

20182017201620152014

$136,680 | 10% $59,243 | 5%

$60,882 | 6% $74,970 | 7%

$66,514 | 7%

$389,130 | 34% $361,557 | 33%

$319,087 | 32% $292,466 | 31%

$410,106 | 31%student share of tuition and fees

gifts and capital gifts

$125,444 | 10% $118,868 | 10% $121,153 | 11%

$110,232 | 11% $99,553 | 11%

state support

$952 | <1% $12,472 | 1%

$18,689 | 2% $20,094 | 2%

$15,819 | 2%

other revenue

$349,702 | 27% $316,247 | 28%

$302,648 | 28% $285,648 | 29% $284,807 | 30%

grants

$59,351 | 4% $28,890 | 3%

$16,211 | 1% $3,084 | <1%

state capital contributions

$225,607 | 17% $206,372 | 18%

$193,013 | 18% $178,560 | 18%

$167,200 | 18%

auxiliary

$12,529 | 1% $12,405 | 1% $12,238 | 1%

$8,336 | 1% $8,248 | 1%

student facility fees

(amounts expressed in thousands)

$1,823 | <1%

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(amounts expressed in thousands) 2014 2015 2016* 2017 2018

Instruction 239,212 261,240 280,646 338,793 378,568Research 181,971 186,132 200,819 230,685 246,346Public service 82,703 90,495 101,895 118,783 143,454Academic support 67,375 71,354 76,908 92,792 101,488Student services 26,940 29,482 31,478 37,645 38,242Institutional support 41,458 45,299 48,347 65,629 72,465Operation and maintenance of plant 59,158 67,844 65,927 77,186 91,410Scholarships 9,812 9,952 10,835 12,338 15,043Auxiliary 126,365 130,258 134,268 152,577 176,302Depreciation and other 93,368 108,144 116,971 117,984 122,139Unusual items 22,185 - - -

Total 950,547 1,000,200 1,068,094 1,244,412 1,385,457

*As reclassified

CSU EXPENSES AND EXPENDITURES BY CATEGORY

EXPENDITURES BY CATEGORY, OPERATING AND NON-OPERATING

(amounts expressed in thousands) 2014 2017 2018

Operating expenses Instruction 239,212 338,793 378,568 Research 181,971 230,685 246,346 Public service 82,703 118,783 143,454 Academic support 67,375 92,792 101,488 Student services 26,940 37,645 38,242 Institutional support 41,458 65,629 72,465 Operation and maintenance of plant 59,158 77,186 91,410 Scholarships and fellowships 9,812 12,338 15,043 Auxiliary enterprises 126,365 152,577 176,302 Depreciation 70,884 81,909 82,292

Total operating expenses 905,878 1,208,337 1,345,610

OPERATING EXPENSES


CSU SPENDING PRIORITIZES CORE MISSION AREAS

27% Academic Instruction

8% Academic Support

18% Research

7% Operations

& Plant Maintenance

13% Auxiliary

9% Depreciation

& Other

10% Public Service

1% Scholarships

3% Student Services

4% Institutional Support

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In 2018, 53 percent of CSU’s total budget was dedicated to

salaries and benefits for Colorado State’s 7,500 employees.

Salary expenses make up the greatest share of CSU’s costs

because higher education is a labor-intensive business.

High-performing people are central to Colorado State’s success,

so recruiting and retaining an exceptional workforce is a top

University priority. This is a challenge when the cost of living in

Fort Collins is 25 to 30 points higher than the national average

(depending on the index).

To achieve long-term stability, over the past year Colorado State University has:

l Implemented a living wage increase in the fall of 2018 for its

lowest-paid employees, assuring an annual income of $30,000

as a baseline for salaried employees. Some 385 employees

received raises.

l Continued to address affordable housing issues for employees

by hiring a coordinator to assist faculty and staff in finding

housing – while also exploring innovative partnership

opportunities to create new attainable housing options.

l Addressed child care challenges for students and faculty with

a proposed childcare center adjacent to campus to be operated

through a public-private agreement with preference for CSU-

affiliated families.

In addition to focusing resources on competitive salaries and benefits, the University implemented a Living Wage Initiative this year to ensure that all salaried CSU employees earn what is considered a living wage in Fort Collins and Northern Colorado ($30,000 annually), based on the MIT Living Wage Calculator.

As a result, the University raised the salaries of 358 state classified personnel, 22 administrative professionals, and five academic faculty. To address unintended consequences such as salary compression, some employees with salaries near the targeted range also were increased. Employees who benefited from the increase include administrative assistants, custodians, dining services staff, animal care and laboratory support staff, research associates, and materials handlers. The largest individual increase was $7,548 a year.

CSU INVESTS IN PEOPLE

42% Instruction &

Academic Support

23% Research

12% Auxiliary Enterprises

7% Public Service

5% Operations & Plant

Maintenance

3%Student Services

7% Institutional

Support

<1% Scholarship


Investing in quality; increasing efficiency

53% of CSU’s total budget in

2018 was dedicated to salaries

and benefits for Colorado State’s

7,500 employees.

CSU added 8,430 students

over the past 10 years but

operated with 39 fewer

employees in FY2018 than it

did in FY2008.

SALARY EXPENSES MAKE UP THE GREATEST SHARE OF CSU’S COSTS

THIS CHART IS A SUBSET OF TOTAL EXPENDITURES SHOWING HOW THE 53 PERCENT OF CSU’S BUDGET THAT IS DEDICATED TO SALARIES AND BENEFITS IS ALLOCATED.

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CSU ASSETS: PRESERVING, MAINTAINING, GROWING PUBLIC RESOURCES

(Amounts expressed in thousands) 2014 2017 2018

Current assets Cash and cash equivalents 272,266 385,055 367,821 Student accounts receivable, net 21,916 28,230 28,485 Grants and other accounts receivable, net 49,325 60,409 90,055 Student loans receivable, net 2,416 2,996 3,190 Inventories 7,179 8,330 8,644 Prepaid expenses 11,201 7,184 7,604

Total current assets 364,303 492,204 505,799 Noncurrent assets Restricted cash and cash equivalents 181,182 89,134 40,388 Restricted investments 25,665 26,435 27,109 Student loans receivable, net 17,875 17,968 17,424 Interest rate swap agreement - - 654 Other noncurrent assets 11,512 13,677 653 Net OPEB assets, noncurrent - - 9,463 Nondepreciable capital assets Land 26,564 36,982 43,338 Construction in progress 162,156 383,369 170,869 Collections 2,354 5,291 5,460

Total nondepreciable capital assets 191,074 425,642 219,667 Depreciable capital assets Land improvements 27,011 36,480 42,964 Building and improvements 770,420 1,063,416 1,383,353 Leasehold improvements 3,602 239 184 Equipment 102,702 75,146 74,404 Library materials 6,614 4,521 4,125

Total depreciable capital assets, (net of A/D) 910,349 1,179,802 1,505,030

Total noncurrent assets 1,337,657 1,752,658 1,820,388 Deferred outflows Deferred outflows - debt refundings 28,777 30,636 53,663 Deferred outflows - pensions - 285,366 203,714 Deferred outflows - OPEBS - - 3,092

Total deferred outflows 28,777 316,002 260,469 Total assets and deferred outflows 1,730,737 2,560,864 2,586,656

CURRENT AND NONCURRENT ASSETSWhile the charts and

graphs of revenue and

expenditures provide

information about activities

occurring within each

fiscal year, the schedules

of our assets, liabilities,

and net position provide

a fiscal snapshot of the

University as of the end

of each fiscal year

presented.

A SNAPSHOT OF CSU ASSETS:

FISCAL YEAR 2018 TOTAL ASSETS

The property on which the University operates

represents a significant asset to the state of

Colorado. Preserving, maintaining, and growing

these assets is CSU’s obligation as a responsible

steward of public resources.

The 708-acre Main Campus, which

includes the 301-acre South Campus

encompassing the James L. Voss Veterinary

Teaching Hospital and the

Natural Resources Research Center

1,439-acre Foothills Campus

1,065-acre Agricultural Research,

Development, and Education Center

1,200-acre CSU Mountain Campus

4,038 acres of land for research centers

and Colorado State Forest Service stations

outside of Larimer County.

2.7 million books, journals, documents,

and electronic materials in Library holdings.

COLORADO STATE UNIVERSITY INCLUDES:

FISCAL YEAR 2018 CAPITAL ASSETS

1% Library Materials

& Collections

4% Equipment

5% Land &

Improvement

80% Building

& Improvements

10% Constructionin Progress

67% Capital Assets

14% Cash

10% Deferred Outflows

1% Other

5% Receivable

3% Restricted Cash


32 ACCOUNTABILITY REPORT 2017

CSU OBLIGATIONS, LIABILITIES

(Amounts expressed in thousands) 2014 2017 2018

Current liabilities Accounts payable 37,250 67,157 60,679 Accrued liabilities 64,813 67,477 28,597 Deferred revenue 31,501 34,932 40,777 Deposits held for others, current 5,570 6,483 6,471 Commercial paper - - 10,000 Bonds payable and certificates of participation, current 17,145 23,126 24,121 Capital leases payable, current 1,904 2,810 2,690 Other noncurrent liabilities, current 2,325 1,478 5,352 Compensated absences liabilities, current 2,256 2,785 3,074

Total current liabilities 162,764 206,248 181,761 Noncurrent liabilities Bonds payable and certificates of participation 694,532 1,076,420 1,070,582 Capital leases payable 6,022 14,952 16,837 Deposits held for others 26,386 19,382 19,382 Other noncurrent liabilities 4,317 5,602 12,982 Compensated absences liabilities 44,471 52,495 46,955 Net pension liability - 913,850 998,052 Net OPEB liability - - 48,612

Total noncurrent liabilities 775,728 2,082,701 2,213,402 Deferred inflows of resources Deferred inflows-other - 442 674 Deferred inflows-pensions - 10,204 39,898 Deferred inflows-OPEBs - - 1,903

Total deferred inflows of resources - 10,646 42,475 Total liabilities and deferred inflows of resources 938,492 2,299,595 2,437,638 Net position 792,245 261,269 149,018 Total liabilities, deferred inflows of resources 1,730,737 2,560,864 2,586,656 and net position

The primary liability

of the University is its

obligation relating to

bonds and capital

leases. These obliga-

tions relate to the financ-

ing of the capital assets

discussed on page 31,

which are critical to

support our land-grant

mission of teaching and

learning, research and

discovery, and outreach

and public service.

32 ACCOUNTABILITY REPORT 2018 COLORADO STATE UNIVERSITY 33Phot

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BALANCING CSU’S BOOKS: RESPONSIBLE STEWARDSHIP

(amounts expressed in thousands) 2014* 2017* 2018

Operating revenues 823,397 1,013,421 1,089,032 Operating expenses 905,878 1,208,337 1,345,610

Operating loss (82,481) (194,916) (256,578)

Nonoperating revenues (net of expenses) 55,786 44,770 64,713

Loss before other revenues (net of expenses) (26,695) (150,146) (191,865)Other revenues 34,763 49,361 126,779 Special items (22,185) - - Extraordinary items - - -

Decrease in net position (14,117) (100,785) (65,086)

Net position, beginning of year 809,605 362,054 261,269 Change in accounting principle (3,243) - (47,165)

Net position, end of year 792,245 261,269 149,018 *Reclassified per review of the scholarship allowance program

CONDENSED STATEMENT OF REVENUES, EXPENSES AND CHANGES IN NET POSITION

(amounts expressed in thousands) 2014 2017 2018

Current assets 364,303 492,204 505,799 Noncurrent assets 1,333,657 1,752,658 1,820,388 Deferred outflows 28,777 316,002 260,469

Total assets 1,730,737 2,560,864 2,586,656

Current liabilities 162,764 206,248 181,761 Noncurrent liabilities 775,728 2,082,701 2,213,402 Deferred inflows - 10,646 42,475

Total liabilities 938,492 2,299,595 2,437,638

Net position 792,245 261,269 149,018

CONDENSED STATEMENT OF NET POSITION


1. CSU publishes a budget rough draft to give to the Board of Governors and the president for campus review and discussion.

2. The campus and community have several opportunities to provide input into both the draft budget and the preparation of final budgets in the winter and spring.

3. As subsequent draft budgets are developed and updated, they are linked to University planning priorities.

4. The Colorado General Assembly and the Office of the Governor work together throughout each spring to finalize state budgets and appropriations, which determine the level of state funding and tuition that will come to each campus.

Draft budgets and related communications are available at https://president.colostate.edu/budget-updates/

Colorado State University is committed to an open,

public, campuswide planning and budgeting process.

CSU BUDGETING AND PLANNING PROCESS

COLORADO STATE UNIVERSITY 35

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A Decade of Success: highlights of the last 10 years

$1.5 billion in infrastructure improvements

337% increase in financial aid

22% increase in enrollment

99% increase in diverse student enrollment

11% increase in graduation rates

Over $1.3 billion in donations raised, exceeding goals on two major fundraising campaigns

14% increase in full-time undergraduate enrollment

CSU consistently ranks as the most sustainable university in the country

CSU consistently ranks among the best universities for student-veterans

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